PALM BEACH, Fla.--(BUSINESS WIRE)-- Chatham Lodging Trust (NYS: CLDT) today announced the partial exercise of the underwriters' overallotment option to purchase an additional 475,823 common shares of beneficial interest, $0.01 par value per share, at the public offering price of $16.35 per share less the underwriting discount. The overallotment option, which will provide additional gross proceeds of $7,779,706 to the company, prior to deduction of the underwriting discount and offering expenses, was exercised in connection with the company's public offering of 4,500,000 common shares, which priced on June 13, 2013. The issuance of shares pursuant to the overallotment option closed on June 28, 2013.

The company will contribute the net proceeds of the offering to its operating partnership in exchange for common units of limited partnership interest in the operating partnership. The company's operating partnership intends to use the net proceeds of the offering to repay debt under its senior secured revolving credit facility and to invest in additional hotel properties in accordance with Chatham's investment strategy and for general corporate purposes.

The common shares were offered under the company's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission on February 10, 2012. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Chatham Lodging Trustis a self-advised real estate investment trust that was organized to invest in upscale extended-stay hotels and premium-branded select-service hotels. The company currently owns 21 hotels with an aggregate of 2,911 rooms/suites in eleven states and the District of Columbia.

FORWARD-LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD-LOOKING STATEMENTS ARE BASED UPON THE COMPANY'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR. STATEMENTS CONTAINING WORDS SUCH AS "EXPECTS," "BELIEVES" OR "WILL," WHICH INDICATE THAT THOSE STATEMENTS ARE FORWARD-LOOKING. EXCEPT FOR HISTORICAL INFORMATION, THE MATTERS DISCUSSED IN THIS PRESS RELEASE ARE FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE THE ACTUAL RESULTS OR PERFORMANCE TO DIFFER MATERIALLY FROM THOSE DISCUSSED IN SUCH STATEMENTS. ADDITIONAL RISKS ARE DISCUSSED IN THE COMPANY'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD-LOOKING STATEMENTS.